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Local consortium purchases Gold Coast Titans from the NRL

Local consortium purchases Gold Coast Titans from the NRL
December 15, 2017

The NRL has announced that a local consortium has acquired ownership of the Gold Coast Titans.

NRL Chief Executive Todd Greenberg announced this morning that the licence had been acquired by a group including former co-owner Darryl Kelly and former Chair Rebecca Frizelle.

The NRL took the Titans over in 2015 to save it from collapse and put it up for sale in late August this year. Other prospective owners including Brisbane-based fund manager Stuart McAuliffe and the North Sydney Bears had also expressed an interest in acquiring the club.

Greenberg advised that the Kelly-Frizelle consortium had the proven track record that the NRL was looking for and that the deal would help secure the long term future of the Gold Coast club.

He advised “we said all the way through this process that our primary aim was to ensure the Titans become a well run, profitable and successful club for their fans and the local community

“And we have no doubt that can best be achieved under the direction of this consortium.

“It was Rebecca and Darryl who took over the running of the club when the Titans were placed in voluntary administration three years ago.

“They have restored the club to the position where it has a strong future and there is no reason the Titans, with their strong grassroots base, shouldn’t go on to become a powerhouse of our competition.”

Greenberg confirmed that the NRL put other matters - particularly securing the future of the club and links with the local community - ahead of financial interests in making its decision, adding “at the end of the day we all have one objective … to ensure the Titans are a successful club.

Looking forward, Greenberg stated "the business plans of this club will be run by the people who now own it ... they know their business better than we know the business here on the Gold Coast.

"We were very conscious of making a decision that allowed this community to engage with the Gold Coast for the long term.

"We are not the long-term owner of clubs and I am really pleased that we are leading into Christmas and we have made some transactions with the Newcastle Knights and the Gold Coast Titans.

"Clubs now have the best opportunity to stand on their own two feet across the competition and run sustainable successful business models and I expect that to be the case.

"The game does not have the funds to bail out clubs in the future - clubs need to stand on their own two feet and they have been given the best opportunity in the history of sport to do that."

Kelly said the consortium put a comprehensive, five-year financial plan to the NRL, advising “our submission ran to thousands of pages and was very detailed and we are very confident that we will have a sustainable club in the near future - most probably breaking even in three years' time.
Frizelle said the agreement gave the four members of the consortium a chance to give back to the community.

She stated “securing the future of the Titans is a great way that our family, with the Kelly family, can ensure the future of an irreplaceable community asset like the Titans,” she said.

“Although the club will be privately owned by the Kelly and Frizelle families until it can become self-sustainable in the long term, it will always be community driven and eventually community owned.”

The club’s new Executive Chair will be former Broncos Chair, Dennis Watt who will work alongside Titans Chief Executive Graham Annesley.

Annesley concluded “once and for all we can say with absolute confidence the Titans are a permanent fixture on both the Gold Coast and in the NRL competition.

“The Titans brand, colours and venue are finally guaranteed and we can now get on with the job of realising the enormous potential of this club.” 

13th April 2017 - NRL RENEWS EFFORTS TO PROMOTE WOMEN’S RUGBY LEAGUE IN NSW AND QUEENSLAND

5th December 2016 - NRL CONCERN OVER DECLINING RUGBY LEAGUE PARTICIPANT NUMBERS

27th April 2015 - GOLD COAST TITANS BOOSTED BY NEW COMMERCIAL DEALS 

29th August 2013 - NSW SPORT MINISTER GRAHAM ANNESLEY RESIGNS TO TAKE UP ROLE AT GOLD COAST TITANS 


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However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

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